Bloomberg’s Editors On Compromise

The editors of Bloomberg take a similar position on compromise on COVID-19 relief:

In weighing how to advance his new Covid relief package, President Joe Biden is wrestling with a dilemma. Does he press as quickly as possible, with or without Republican cooperation, to pass the plan he’s laid out? Or does he seek compromise, risking both delay and a dilution of his proposals, in an effort that Republicans might scorn in any case? With the question posed this way, many Democrats think the answer is obvious: Bipartisan progress is a mirage, so just get on with doing what’s necessary.

They should think again. Yesterday a group of 10 Senate Republicans proposed an alternative plan, saying they’d present the details today, and Biden has agreed to meet them to discuss it. They appear to have a total outlay of some $600 billion in mind. That’s too little to meet current needs, but it’s a basis for discussion and the president is right to see where it leads. Failing to seek a deal would be wrong for two reasons. First, Biden shouldn’t give up on uniting the country — the theme of his election campaign, and the focus of his inaugural address — within days of taking office. Second, accommodation with moderate Democrats and responsible Republicans could make his plan better.

I’m substantially aligned with their views on extending direct payments to those not in need and on the imprudence of increasing the minimum wage under the circumstances. I disagree with their views on extending aid to state and local governments. Some state and local revenues have actually grown over the last year if you can believe such a thing under the circumstances. I believe that whatever aid is extended to state and local governments must be in a form which they cannot use to offset spending that is not COVID-19 related. That would be difficult to construct and maintain but it needs to be recognized how many of them are in hells of their own making. They chose certain priorities over others and they ought not to be indemnified against the adverse consequences of those decisions.

5 comments… add one
  • CuriousOnlooker Link
  • walt moffett Link

    Once again, Biden is proving he is a river to his people. Now to see how much drama and theatrics the media will extract.

  • Grey Shambler Link

    Sen. Joe Manchin has thrown a wrench in Biden’s Senate majority machine saying he won’t vote party line and, (gasp), that too much money has been thrown out the window already.
    So we’ll see if he means to actually buck Schumer or if he just wants a sweetener for his vote.

  • As I’ve pointed out before extremely narrow margins in the House and Senate grant additional clout to individual representatives and senators.

  • Drew Link

    “As I’ve pointed out before extremely narrow margins in the House and Senate grant additional clout to individual representatives and senators.”

    Hence McConnell being so sanguine over the Senate loss.

    In any event, this debate should be more about the legislation doing what its supposed to do and less about philosophical debates over compromise. (I can dream, can’t I?) If you really want to help those most harmed by the economic impact of covid policy you don’t install minimum wage provisions. You don’t install bailouts for chronically mismanaged cities. And what’s this about not sending money to the top 2-5%? How about the top 10 or 20% or…….?

    Politicians are going to do what they do: be whores. The shame of a press behaving more like adoring teenage girls, or opposing drunken soccer fans, is that this bastardized process is not made as uncomfortable for the politicians as possible. Meanwhile, in the name of compromise, the people really in need are ground up like sausage.

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